United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Down 4.4% – What’s Next?

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price traded down 4.4% during trading on Wednesday . The company traded as low as $22.28 and last traded at $22.26. 537,229 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 7,623,395 shares. The stock had previously closed at $23.28.

United States Natural Gas Fund Stock Performance

The stock has a market cap of $1.39 billion, a PE ratio of -18.00 and a beta of 0.28. The firm’s 50-day moving average is $19.28 and its 200 day moving average is $16.10.

Hedge Funds Weigh In On United States Natural Gas Fund

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in United States Natural Gas Fund in the 4th quarter valued at $267,000. Freedom Investment Management Inc. purchased a new stake in shares of United States Natural Gas Fund in the third quarter valued at about $164,000. The Manufacturers Life Insurance Company increased its stake in shares of United States Natural Gas Fund by 135.7% during the third quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock worth $8,908,000 after acquiring an additional 314,057 shares during the period. Hobbs Group Advisors LLC purchased a new position in United States Natural Gas Fund during the third quarter worth about $29,000. Finally, Daiwa Securities Group Inc. lifted its position in United States Natural Gas Fund by 17.7% in the third quarter. Daiwa Securities Group Inc. now owns 88,893 shares of the exchange traded fund’s stock valued at $1,452,000 after purchasing an additional 13,400 shares during the period.

United States Natural Gas Fund Company Profile

United States Natural Gas Fund, LP is a limited partnership. The Company is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of the Company is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of natural gas delivered at the Henry Hub, Louisiana, as measured by the daily changes in the price of the futures contracts on natural gas traded on the New York Mercantile Exchange (the NYMEX) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire (the Benchmark Futures Contract), less its expenses.